Norway: Base Metal Padlock Market 2024

Base Metal Padlock Market Size in Norway

The Norwegian base metal padlock market contracted to $X in 2022, which is down by -11.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Base Metal Padlock Exports

Exports from Norway

In 2022, shipments abroad of base metal padlocks increased by 6% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed moderate growth. The pace of growth appeared the most rapid in 2016 when exports increased by 101% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, base metal padlock exports surged to $X in 2022. Over the period under review, exports posted resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 98%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden (X tons), Italy (X tons) and Denmark (X tons) were the main destinations of base metal padlock exports from Norway, together accounting for 80% of total exports. Germany, Finland, the UK and Ireland lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +48.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) remains the key foreign market for base metal padlocks exports from Norway, comprising 53% of total exports. The second position in the ranking was held by Sweden ($X), with a 13% share of total exports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy totaled +41.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+1.4% per year) and Germany (+2.5% per year).

Export Prices by Country

The average base metal padlock export price stood at $X per ton in 2022, picking up by 11% against the previous year. In general, the export price recorded strong growth. The pace of growth was the most pronounced in 2014 when the average export price increased by 68% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Padlock Imports

Imports into Norway

In 2022, approx. X tons of base metal padlocks were imported into Norway; shrinking by -14.1% against the previous year. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 88% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, base metal padlock imports shrank to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 54%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of base metal padlock to Norway, with a 69% share of total imports. Moreover, base metal padlock imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), sevenfold. The third position in this ranking was taken by Sweden (X tons), with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.2% per year) and Sweden (+6.8% per year).

In value terms, China ($X) constituted the largest supplier of base metal padlocks to Norway, comprising 55% of total imports. The second position in the ranking was held by Sweden ($X), with a 12% share of total imports. It was followed by Germany, with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+12.3% per year) and Germany (-10.1% per year).

Import Prices by Country

In 2022, the average base metal padlock import price amounted to $X per ton, growing by 4.8% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 15%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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